Last updated: April 03, 2024
Playtech, a Europe-based gaming software provider, records a 7% surge in adjusted revenue and a 9% increase in EBITDA for Fiscal Year 2023. Notably, its North American B2B revenue witnesses a remarkable 74% annual growth, driven by strategic partnerships with leading US brands like Hard Rock Digital and Rush Street Interactive. The company also highlights advancements in gender equity initiatives and expansion efforts in live-dealer gaming across key US states.
The Europe-based gaming software provider Playtech showcased a 7% Y-o-Y increase in the adjusted revenue for the year ended Fiscal 2023 (FY13), similar to the previous fiscal year. Playtech is known for its strong presence in the US gambling industry.
Moreover, the company reported 9% EBITDA growth, improving its financial performance as a business entity. The fiscal year 2019 results include a highlight of successful partnerships between Playtech and the well-known names Bret Harte Digital and Rush Street Interactive.
The highlight of the Playtech year-end report turned out to be the raw growth of adjusted revenue and EBITDA not only in its European business but in its global operations as well.
However, the performance of North American cuisines was the most noticeable. Canadian or United States firms clinched 74% of the B2B revenue compared to an annual increment of 45% in the Latin American sector.
Playtech, in its FY 2023 report, marks great innovations in the United States, one of which is a product leading to increased investment in online casinos and sports betting sectors, where the company has established a significant market presence.
The platform constantly strives to connect with new brands in slots, online poker, and live-dealer games, and it opened its own third live-dealer studio court in Detroit and launched its version of live tables in main markets like Michigan, New Jersey, and Pennsylvania. Playtech also marked its presence by holding licenses in eleven US states in the context of the advancements mentioned above.
During FY 2023, Brian Mattingley, Playtech Board Chairman, deemed it another good year for the company and wrote that the company has been delivering strong results and increasing shareholder value.
He focused on the unceasing evolution in the sphere of strategic and operational marketing and, nowadays, B2B and B2C marketing. Beating expectations and taking a lead position in performance charts, the tough year that Playtech experienced does not affect the quality at the core of the entity, enabling their superiority, states Mattingley.
Playtech (LSE: PTEC) reported that its female representation in the leadership team increased from 26% in 2022 to 30% in 2023, in addition to positive adjusted revenue and EBITDA. By 2025, the company wants to have 35% of female leaders.
The company stated that in 2024, Playtech will persist in enhancing its comprehension of disparities in female talent within the organization and will implement measures to bolster the retention of female employees.
Throughout 2023, Playtech consistently made headlines on PlayUSA with significant developments:
In February, Playtech partnered with Hard Rock and Gold Rush Gaming, expanding its offerings in New Jersey and Ohio. It also extended rights with Sony Pictures Television.
Playtech acquired a stake in Hard Rock Digital in March and July and launched a live casino gameshow in New Jersey.
October saw Playtech’s expanded partnership with BetPARX Sportsbook and acquisition of the “Family Feud” brand rights.
Closing the year, Playtech opened its third live-dealer studio in Pennsylvania and integrated its content into Boyd Gaming’s Stardust online casinos in New Jersey and Pennsylvania.
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